Complete SITM Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
SITM DCF Analysis
SITM (SiTime Corporation) discounted cash flow analysis with multiple scenarios, growth assumptions, and terminal value calculations
Financial Projections
| Metrics | 2022 (Historical) | 2023 (Historical) | 2024 (Historical) | 2025 (Projected) | 2026 (Projected) | 2027 (Projected) | 2028 (Projected) | 2029 (Projected) |
|---|---|---|---|---|---|---|---|---|
| Revenue | $283.6M | $144.0M | $202.7M | $235.7M | $270.3M | $306.0M | $342.4M | $379.0M |
| Revenue Growth % | - | -49.2% | 40.8% | 16.3% | 14.7% | 13.2% | 11.9% | 10.7% |
| EBIT | $4.3M | $-107.2M | $-115.2M | $11.8M | $13.5M | $15.3M | $17.1M | $18.9M |
| EBIT Margin % | 1.5% | -74.4% | -56.9% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 0.4% | 25.0% | 25.0% | 15.1% | 16.1% | 17.1% | 18.1% | 19.1% |
| NOPAT | $4.3M | $-80.4M | $-86.4M | $10.0M | $11.3M | $12.7M | $14.0M | $15.3M |
| NOPAT Margin % | 1.5% | -55.8% | -42.6% | 4.2% | 4.2% | 4.1% | 4.1% | 4.0% |
| Capex | $35.6M | $12.2M | $36.2M | $28.8M | $31.4M | $33.7M | $35.9M | $37.7M |
| Capex / Revenue % | 12.6% | 8.5% | 17.9% | 12.2% | 11.6% | 11.0% | 10.5% | 10.0% |
| Depreciation | $11.8M | $16.1M | $30.1M | $23.7M | $27.2M | $30.8M | $34.5M | $38.2M |
| D&A / Revenue % | 4.2% | 11.2% | 14.8% | 10.1% | 10.1% | 10.1% | 10.1% | 10.1% |
| Change in NWC | $46.7M | $-133.4M | $-66.2M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | 16.5% | -92.7% | -32.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-66.2M | $56.9M | $-26.3M | $4.9M | $7.2M | $9.8M | $12.6M | $15.8M |
| UFCF % Chg. | - | 185.9% | -146.3% | 118.8% | 45.4% | 35.8% | 29.5% | 24.9% |
| FCF / Revenue % | -23.4% | 39.5% | -13.0% | 2.1% | 2.7% | 3.2% | 3.7% | 4.2% |
| Discount Factor | - | - | - | 0.876 | 0.767 | 0.672 | 0.589 | 0.516 |
| Present Value of FCF | - | - | - | $4.3M | $5.5M | $6.6M | $7.4M | $8.1M |
| Sum of PV of UFCF | - | - | - | $4.3M | $9.8M | $16.4M | $23.8M | $32.0M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.0% |
| Tax Rate | 15.1% |
| After Tax Cost of Debt | 5.1% |
| Risk Free Rate | 4.46% |
| Market Risk Premium | 4.3% |
| Beta | 2.24 |
| Cost of Equity | 14.2% |
| Total Debt | $6.2M |
| Market Cap | $4.9B |
| Total Capital | $4.9B |
| Debt Weighting | 0.1% |
| Equity Weighting | 99.9% |
| WACC | 14.2% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $15.8M |
| Terminal Value | $138.7M |
| PV of Terminal Value | $71.6M |
| Cumulative PV of UFCF | $32.0M |
| Net Debt | $126.0K |
| Equity Value | $103.4M |
| Shares Outstanding | 23.1M |
| Implied Share Price | $4 |
| Current Share Price | $205 |
| Implied Upside/(Downside) | -97.8% |
Valuation Summary
$4.47
Implied Price
$204.85
Current Price
-97.8%
Upside/Downside
14.2%
WACC
SITM Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 11 peer companies in Technology
P/E Ratio
$-116.71
-157.0%
Peer Median: 31.1x
EV/EBITDA
$0.00
-100.0%
Peer Median: 30.7x
P/S Ratio
$92.56
-54.8%
Peer Median: 9.5x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for SITM's business model and current situation.
Multiple Comparison
| Multiple | SITM Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -54.6x | 31.1x | 37.5x | -275.5% | Undervalued |
| EV/EBITDA | Infinityx | 30.7x | 26.7x | Infinity% | Overvalued |
| P/S Ratio | 21.1x | 9.5x | 7.9x | 121.3% | Overvalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $7.12B | 31.1x | 26.0x | 11.0x | |
| $6.38B | 125.0x | 93.6x | 13.1x | |
| $6.04B | 29.5x | 22.0x | 10.0x | |
| $5.15B | 16.4x | 10.2x | 2.7x | |
| $4.97B | 62.8x | 31.1x | 6.8x | |
| $4.86B | 0.0x | 0.0x | 21.1x | |
| $3.53B | 844.7x | 0.0x | 383.7x | |
| $4.06B | 0.0x | 318.8x | 6.2x | |
| $3.47B | 363.2x | 255.6x | 9.5x | |
| $3.30B | 276.1x | 30.7x | 3.6x | |
| $3450.04B | 47.9x | 40.1x | 26.4x |